3Q FY2015 Results
3Q Highlights
●Operating Results Continued expansion in Premium Services and Advertising. Consolidated operating income increased 60.3%, compared to the same period last year.
●Shop Deals Service Solid growth proven by below statistics as of 3Q end: -‐‑‒ 5,300 store participants in chargeable service -‐‑‒ 16,000 store registrants in real-‐‑‒time deals delivery service
2
●New Business in Japan Minnano Wedding Co., Ltd. joined the consolidated group in 3Q
Consolidated ResultsJanuary 1 -‐‑‒ September 30, 2015
3Q Key Financials
* Due to IFRS adoption in 2015, figures for 2014 were recalculated by reflecting material differences between JGAAP and IFRS.
4
(in millions of JPY)
2014 Jan - Sept
2015 Jan - Sept
Change
Revenue 6,088 10,006 64.3%
Opearating Income 2,623 4,204 60.3%
Pre-‐‑‒tax Profit 2,623 4,124 57.2%
Net Income Attributable to Cookpad
1,584 2,478 56.4%
+
+
+
+
*
0
2,000
4,000
6,000
8,000
10,000
12,000
Jan-‐‑‒Sept 2014 Jan-‐‑‒Sept 2015
8,4695,941
Revenue Impact of New Subsidiaries●New subsidiaries such as SELECTURE, Inc. and Minnano Wedding Co., Ltd. boosted revenue. The growth excluding those impacts would have been +42.7%.
5
*2
*1 SELECTURE in consolidation since August 2014, thus Jan-‐‑‒Sept 2014 includes its revenue from August and September 2014. *2 Due to IFRS adoption in 2015, figures for 2014 were recalculated by reflecting material differences between JGAAP and IFRS.
Addition by new subsidiaries42.7%
(in millions of JPY)
6,088
10,006+
*1
0
2,000
4,000
6,000
8,000
10,000
12,000
Jan-‐‑‒Sept 2015
(in millions of JPY)
4,723
3,100
108
952
10,006
157
905
57
Revenue Mix
6
Others Other than as described below
EC Revenue from “Angers” -‐‑‒ an online shop for home & kitchen goods
IT/ Media
Other IT/Media Primarily from Minnano Wedding
Recipe Services
OthersEditorial fees for “Cookpad” related publications, etc
Shop Deals Service
“Tokubai Joho” chargeable service (launched in March 2015)
Advertising Ad sales mainly on "Cookpad" sites
Premium Service
Cookpad Premium Membership sales
Major Sources by Segment
* Segmentation is refined and provided from 3Q 2015.
FY 2011 FY 2012 FY April 2014 FY December 2014 FY 2015
Others ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 57
EC ー ー ー ー ー ー ー ー ー ー ー ー ー 270 267 288 400 263IT/ Media 844 972 973 1,119 1,103 1,180 1,259 1,437 1,539 1,533 1,620 1,879 2,052 2,344 1,765 2,594 2,891 3,510
Total 844 972 973 1,119 1,103 1,180 1,259 1,437 1,539 1,533 1,620 1,879 2,052 2,615 2,033 2,883 3,292 3,831
(in million of JPY)
Segment Revenue by Quarter
7
0
1,000
2,000
3,000
4,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
1,8792,052
2,615
2,033
2,883
3,292
3,831JGAAP
(Consolidated)
844972 973
1,119
1,437
1,180
1,539 1,533 1,620
1,1031,259
JGAAP (Non-‐‑‒consolidated)
2-‐‑‒month Quarter *2
IFRS
*1 Segmentation is refined and provided from 3Q 2015. *2 In this 8-‐‑‒month transition period, this quarter represents November and December in 2014.
*1
Recipe Services Revenue by Quarter
8
0
1,000
2,000
3,000
4,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
1,8371,992
2,278
1,731
2,7412,464
2,884
JGAAP (Consolidated)
844 972 9731,119
1,4371,180
1,539 1,533 1,587
1,1031,259
(in million of JPY)JGAAP
(Non-‐‑‒consolidated)
2-‐‑‒month Quarter *2
IFRS
FY 2011 FY 2012 FY April 2014 FY December 2014 FY 2015
Others ー ー ー ー ー ー ー ー 1 2 2 13 35 65 39 39 23 45
EC ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 16 68 72
Advertising 302 413 390 480 420 452 485 620 660 574 564 708 766 931 795 949 1,101 1,048
Premium Services 542 558 582 638 681 727 775 816 877 956 1,019 1,114 1,190 1,280 896 1,459 1,547 1,717
Total 844 972 973 1,119 1,103 1,180 1,259 1,437 1,539 1,533 1,587 1,837 1,992 2,278 1,731 2,464 2,741 2,884
*1
●Revenue breakdown of Recipe Services (IT/Media segment)
*1 Segmentation is refined and provided from 3Q 2015. *2 In this 8-‐‑‒month transition period, this quarter represents November and December in 2014.
0
1,000
2,000
3,000
4,000
5,000
Jan-‐‑‒Sept 2015
4,862(in million of JPY)
9
SG&A Expenses
Others Other than as described below
Shipping charges Shipping charges at an online shop “Angers”
Rent Office rent
Advertising Advertising for each service
Promotion fees To promote “Cookpad” Premium Membership
Cloud computing fees
To use cloud computing for “Cookpad” services
Sales commissions To collect Premium Membership fees through settlement platform
Personnel expenses 487 employees as of 3Q end
*1 “Shipping charges” and “Rent” are separated from 1Q 2015 *2 “Advertising” is separated from 3Q 2014
*1
2,318
611
147228
1,023
144149
*2
237
Major Sources
*1
0
500
1,000
1,500
2,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
FY 2011 FY 2012 FY April 2014 FY December 2014 FY 2015
Others 116 105 129 133 135 138 132 150 169 182 196 222 284 398 297 303 314 405
Shipping charges ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 53 48 42
Rent ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 62 63 103Goodwill amortization ー ー ー ー ー ー ー ー ー ー 49 95 109 118 81 ー ー ー
Advertising ー ー ー ー ー ー ー ー ー ー ー ー ー ー ー 32 51 65
Promotion fees ー ー ー ー 2 17 20 13 26 46 70 65 121 92 53 69 46 31
Cloud computing fees 31 50 28 34 28 25 26 31 32 36 38 47 51 52 42 74 81 81
Sales commissions 52 51 57 67 72 80 87 95 103 107 112 129 138 163 126 189 213 208
Personnel expenses 251 259 265 300 285 281 292 365 341 359 418 493 497 545 437 652 727 939Total 451 466 482 535 522 544 559 656 673 733 886 1,053 1,203 1,370 1,039 1,437 1,546 1,878
SG&A by Quarter
10
1,878
656451 466 482 535 522 544 559
673 733
1,3701,203
1,053886
1,4371,546
1,039
*2
*2
*3
*1 In this 8-‐‑‒month transition period, this quarter represents November and December in 2014. *2 ”Shipping charges” and “Rent” are separated from 1Q 2015 *3 “Advertising” is separated from 3Q 2014
(in million of JPY) JGAAP (Consolidated)
JGAAP (Non-‐‑‒consolidated)
2-‐‑‒month Quarter *2
IFRS
Operating Income by Quarter
* In this 8-‐‑‒month transition period, this quarter represents November and December in 2014. 11
0
500
1,000
1,500
2,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
FY 2011
1,585
386491 481
569 563
769691
620
843787
710811791
1,043
824
1,195
1,423
(in million of JPY)JGAAP
(Consolidated)JGAAP
(Non-‐‑‒consolidated)
2-‐‑‒month Quarter *
IFRS
FY 2012 FY April 2014 FY Dec 2014 FY 2015
Recipe Services DetailJanuary 1 -‐‑‒ September 30, 2015
0
10
20
30
40
50
60
July Oct Jan Apr July Oct Jan Apr July Oct Dec Mar June Sept
0.60.7
0.70.80.8
0.91.01.1
1.4
1.42.1
2.53.4
4.2
9.29.1
9.38.68.4
7.99.4
8.57.9
6.96.6
5.74.9
3.8
30.230.327.425.523.7
19.817.716.514.211.09.88.76.8
5.3
15.616.215.015.417.216.115.715.015.914.814.013.814.112.6
PCSmartphone BrowsersAppsFeature Phones
29.4 30.932.7
34.2
39.541.3
50.4
26.1
44.0 44.9
50.3
55.7M
Domestic “Cookpad” User Trend
*1 Counts every access from one of the devices or browsers above. *2 Categorization has changed in July 2014.
*2
FY Apr 2014 FY 2015 FY Dec 2014FY 2012
(in millions)
13
*1
52.5
Monthly Users56.4
Halloween Event in October
14
● Seasonal events lined up to create more opportunities for people to enjoy seasonal cooking!
Monthly Users in October reached 58.8M
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
● Daily users* keep increasing as our service expand into more aspects of daily life
Daily User Trend
(in actual)
15FY Apr 2014 FY 2015FY Dec 2014FY 2012
0
2,000,000
4,000,000
6,000,000
8,000,000
* Based on domestic “Cookpad” sites
1.0
1.5
2.0
2.5
July Oct Jan Apr July Oct Jan Apr July Oct Jan Apr July Oct Dec Mar Jun Sept
1.031.081.11
1.21.27
1.331.38
1.451.51
1.571.63
1.711.78
1.861.92
2.012.1
2.19
FY 2012 FY Apr 2014 FY Dec 2014 FY 2015
16
Increasing Cooking Recipes
(in millions)
* Based on the domestic “Cookpad” sites
FY 2011
“User First” Drives Our Services
17Source: JSCIʼ’s third survey in 2015 (Japanese Customer Satisfaction Index)
● No.1 customer satisfaction in Internet Service industry for 3 years running
0.0
5.0
10.0
15.0
20.0
Jan Apr July Oct Dec Mar Jun Sept
4.29
6.56
3.45 4.09
2.55
1.55
1.20
0.770.810.53
7.70
2.18
5.787.61
4.294.664.796.00
0.730.620.911.020.990.870.670.83
EnglishSpanishBahasa IndonesianArabic
* Measured by Google Analytics
(in millions)
18
FY Apr 2014 FY 2015FY Dec 2014
*
Recipe Services Going Global
Monthly Users by Language
16.82
6.836.06
11.93
6.35
11.70
9.83
6.01
0
500
1,000
1,500
2,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
19
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
1,717
542 558582
638681
727775
816877
9561,019
1,1141,190
1,280
896
1,459
1,547
Quarterly Sales Premium Members (paying subscribers) (in millions of JPY) (in millions)
* In this 8-‐‑‒month transition period, this quarter represents Nov. and Dec. in 2014.
JGAAP (Non-‐‑‒consolidated)
JGAAP (Consolidated)
IFRS
FY 2011 FY Apr 2014FY 2012 FY Dec 2014 FY 2015
!2-‐‑‒month Quarter *
Premium Services
0.5
1.0
1.5
2.0
FY 2011 FY Apr 2014FY 2012 FY Dec 2014 FY 2015
20
Premium Members -‐‑‒ Net Increase per Quarter
* In this 8-‐‑‒month transition period, this quarter represents November and December in 2014.
0
20,000
40,000
60,000
80,000
100,000
120,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
Free-‐‑‒trial ended (Upgraded to Premium Members)
Free-trial started
Temporary plunge due to switching to smartphones
Holding down real affiliates
2-‐‑‒month Quarter *
Real affiliates decreased & the app sales price hiked
Partially due to a change in the measurement
(in actual)
FY 2012 FY 2012 FY Apr 2014 FY Dec 2014 FY 2015
21
0
500
1,000
1,500
2,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
490 507 524571 607
708668628
802 838922 931
1,226
737747
1,041
1,321
Premium Services Profit -‐‑‒ Trend by Quarter
*1 Premium Services Profit = Premium Services sales -‐‑‒ (sales commissions + promotion expenses) *2 In 8-‐‑‒month transition period, this quarter represents November and December 2014.
FY 2011 FY April 2014FY 2012 FY Dec 2014 FY 2015
*1
1,508
● Service offering through “d gourmet” by NTT DOCOMO, Inc. started in May 2015 resulted in more revenue streams being gained from carriers and revenue sharing.
(in million of JPY)
2-‐‑‒month Quarter *
0
200
400
600
800
1,000
1,200
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
2230
13
3
4
2355385
429238
302
264184
143131
109152
121117102
12672
18
19
323318
264256
312
266270192
163
209181
145105768788
81
61347366
243297312233251228279341286
218229242265228311
222
TIe-‐‑‒up adsDisplay adsNetwork adsOthers
Advertising
(in million of JPY)
22* In 8-‐‑‒month transition period, this quarter represents November and December 2014
574 564
660620
485420
452
705
767
932
796
302
413390
480
950
1,1001,048
Sales by Ad-‐‑‒ProductJGAAP
(Non-‐‑‒consolidated)JGAAP
(Consolidated)IFRS
FY Apr 2014 FY 2015FY 2011 FY 2012 FY Dec 2014
Ads for the domestic “Cookpad” sites
2-‐‑‒month* Qtr
0
200
400
600
1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
64
174
303
363317
23
509
Smartphone Ads Sales *1
FY Apr 2014 FY Dec 2014 FY 2015
(in millions of JPY)
*1 Refers to total of Network and Display ads sales, excluding Tie-‐‑‒ups ads *2 In 8-‐‑‒month transition period, this quarter represents November and December 2014
2-‐‑‒month*2 Qtr
526481
Shop Deals Service
Registered Users
2.5
5.0
exceeded 4.7M in Sept 2015(in millions)
10,000
20,000(in actual)
! exceeded 16K in Sept 2015
Registered Stores in Real-‐‑‒Time Delivery Service
24
●New service line charging monthly 5,000 yen per store as the main product has won 5,300 retailers as of 3Q end, since its launch in March 2015 ●Including above, steady growth demonstrated by the number of participants
FY Aprʼ’14 FY Decʼ’14 FY 20151Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
FY Decʼ’14 FY 20151Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q
FY Aprʼ’14
Topics
“Minnano Wedding” into Consolidation Group
31
●Minnano Wedding Co., Ltd. that operates a wedding venue reviews website of “Minnano Wedding” joined the group as of 3Q 2015. ●Strong synergies expected with “Cookpad” offering user-‐‑‒generated contents in common, to bring more growth opportunities for its service, technology, and further expansion.
Make Everyday Cooking Fun
!!
Cookpad Inc. !
Investor Relations Email : [email protected]
This presentation contains certain comments that may be characterized as forward-looking statements. These statements are based on information currently available to management and its beliefs and assumptions regarding future business and financial performance. A number of factors such as changes in business environment may cause actual results to differ materially from any future results or performance expressed or implied by this presentation.